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The Coming Divide, Obamacare Strikes Walmart, Twitter Sues the DOJ
Today we discuss Obamacare, what the change in the healthcare law is going to mean, Walmart cutting health benefits for part-time employees.
Twitter files a lawsuit against the Department of Justice over data disclosure rules.
And former '7th Heaven' dad confesses to the unthinkable.
All that and more today on the live show.
Pulse of the economy
What did Jason tell you yesterday?
“Be careful, this market is volatile!... This is not a time where I want to invest in the market. Why? Because I think we are due for a 10% or 15% correction at the least.”
“Talking heads always seem to be able to find the answer as to why the market went down after it went down.”
Jason shares his thought as to why he thinks the markets are on a decline.
Walmart eliminates healthcare insurance coverage for most part time workers
“Not only are the part time workers losing their benefits but now the full time workers are getting a 16% increase in their health care costs. Thank you, Obamacare!”
“This is not just about healthcare. This is about your livelihood. It’s about your kid’s ability to come out of college and be able to find a full time job. It’s about your ability to move from that low income paying job, to work hard, to move up from that ladder.”
“Unless something changes, my belief is that that is over. The type of America that we’ve understood for generations is going away. And you’re seeing it right here.”
-----
Follow Jason on Twitter: www.Twitter.com/TheLiveShowTV
Follow Us on Facebook: www.Facebook.com/TheLiveShowTV
-----
Are you interested in advertising on The Live Show?
Reach out to us at [email protected]
We’d love to talk with you.
-----
Sponsors
Trade Pro Futures: http://tradeprofutures.com/
The industry's top futures and forex trading platforms.
Trade Empowered: http://www.tradeempowered.com/
Learn how to day-trade, swing-trade, or become a profitable long term trader.
Main Street Alpha: http://mainstreetalpha.com/
A social site that links up professional successful traders with verifiable track records to capital.
-----
The government is not there to help you
“The scariest thing in the world to hear is ‘hello, i’m from the government and i’m here to help.” -President Ronald Reagan
“The government runs very little efficiently. It does very little right.”
Example: The Obamacare website, which cost $100 million to create and now, another $100 million to fix.
The Coming Divide by Jason Stapleton: http://www.theliveshow.tv/resources/thecomingdivide.pdf
EXCERPT: “If insurance premiums are going up most Americans who now have insurance are going to become more dependent on their employer to help defer some of the cost. This, in turn, will likely decrease the mobility of our
workforce since people will be less likely to quit jobs, start new businesses, or apply for better jobs out of fear they might lose their health insurance. If you feel trapped in a job now and are afraid to quit because the company has such good benefits, just wait. In the world of ObamaCare it will be virtually impossible to leave your employer. Here’s why.
In addition to a personal mandate, ObamaCare also goes after corporations. Those are the evil institutions that provide jobs and create products that produce wealth. In the eyes of many in Washington, a company exists not to make a profit for its shareholders or to create value for consumers. Rather, that company exists to provide jobs, pensions, and health insurance to its workers. In their, eyes making a profit should always come second to caring for the worker.”
EXCERPT: “The new corporate mandate forces most American businesses to offer government approved health insurance to their employees or else pay new federal taxes for not doing so. Not all corporations fall under this new law. Right now the bar is set at 50 employees or more. So if you run a company with 50 or more employees or if you work for a company that has more than 50 employees, you’re going to be affected.
Under the new mandate, if a company does not offer health insurance and has at least one employee receiving a subsidy from the government then that company must pay a $2,000 fine per employee.
Even if the company does offer health insurance, if they have an employee who can get a better deal with a subsidized insurance program, that company will also be taxed at $2,000 per employee (exempting the first
30 employees).”
EXCERPT: “But it doesn’t stop there. Even if the employer does offer health insurance, if one person who works for them opts for an alternative, subsidized health insurance, that company is still liable to for the penalty because the company did not provide “adequate” coverage. So they’re damned if they do and damned if they don’t.
Now step back for a moment and let’s contemplate what the cost of providing coverage might be to those employers. Remember, by the IRS’s own filings they expect the cheapest plan to run $20,000 year. This is several multiples higher than the current cost for health insurance. Companies that now offer insurance will now be faced with a choice. Pay double or triple what they now pay per employee or simply suck it up and pay the penalty. Which one do you think most large companies will choose?
If you work for a small company (less than 50 employees) and you happen to have health insurance now, do you think they are likely to continue to provide it when premiums double or triple? The answer is no. What you will see over the next several years is companies dropping their health insurance coverage and pushing people onto the exchanges.”
What it all means for you, your children, and your grandchildren?
EXCERPT: “The new law will have a very damaging effect on entry level workers. When I turned 16, I walked across the street from my house and got a job washing dishes at a Pizza Hut for $5 an hour. Over the course of the next several years I moved from one company to the next. There was a high degree of mobility and I had the opportunity to advance at a young age. In the summer I switched from working 20 hours a week to 40 or 50, depending on who I was working for and how badly I needed money. There was a massive amount of opportunity for a kid who was willing to work hard.
I also gained a great deal of work experience. I had the chance to work in a variety of industries and even tried my hand at entrepreneurship by cutting grass with a friend in the summer. Entry level jobs were easy to come by and a poor kid like me learned a lot about the value of hard work. Had I decided to stay at the Pizza Hut, I could have easily worked my way up to a manager and even purchased my own franchises down the line. There was upward mobility, a chance to start at the bottom and retire rich.
I think that kind of opportunity is over. With the passage of ObamaCare, companies like Pizza Hut, McDonald’s, Home Depot, and a host of other companies that offer a low barrier for entry and a chance to advance, will have to drastically change the way the hire and advance employees.”
Walmart is getting out of the health insurance business and getting into the health provider industry
Wal-Mart cuts health benefits for some part-timers
http://www.chron.com/news/us/article/Wal-Mart-cuts-health-benefits-for-most-part-timers-5806306.php
Walmart Announces Ambitious Goal: 'To Be The Number One Healthcare Provider In The Industry'
http://www.forbes.com/sites/dandiamond/2014/10/06/walmart-announces-ambitious-goal-to-be-the-number-one-healthcare-provider/
7th Heaven Actor Makes Horrifying Confession
“It’s extremely sad. It taints forever what was one of the real shining lights in evening television in America.”
Twitter sues the Department of Justice
Twitter Is Suing the Government So it Can Tell You More About Surveillance
http://time.com/3479012/twitter-suing-department-justice/
Twitter sues US government over limits on ability to disclose surveillance orders
http://www.chicagotribune.com/news/sns-wp-washpost-bc-twitter07-20141007-story.html
“It is so critically important that we demand transparency in government.”
View all episodes
By Jason Stapleton - A voice for LibertyToday we discuss Obamacare, what the change in the healthcare law is going to mean, Walmart cutting health benefits for part-time employees.
Twitter files a lawsuit against the Department of Justice over data disclosure rules.
And former '7th Heaven' dad confesses to the unthinkable.
All that and more today on the live show.
Pulse of the economy
What did Jason tell you yesterday?
“Be careful, this market is volatile!... This is not a time where I want to invest in the market. Why? Because I think we are due for a 10% or 15% correction at the least.”
“Talking heads always seem to be able to find the answer as to why the market went down after it went down.”
Jason shares his thought as to why he thinks the markets are on a decline.
Walmart eliminates healthcare insurance coverage for most part time workers
“Not only are the part time workers losing their benefits but now the full time workers are getting a 16% increase in their health care costs. Thank you, Obamacare!”
“This is not just about healthcare. This is about your livelihood. It’s about your kid’s ability to come out of college and be able to find a full time job. It’s about your ability to move from that low income paying job, to work hard, to move up from that ladder.”
“Unless something changes, my belief is that that is over. The type of America that we’ve understood for generations is going away. And you’re seeing it right here.”
-----
Follow Jason on Twitter: www.Twitter.com/TheLiveShowTV
Follow Us on Facebook: www.Facebook.com/TheLiveShowTV
-----
Are you interested in advertising on The Live Show?
Reach out to us at [email protected]
We’d love to talk with you.
-----
Sponsors
Trade Pro Futures: http://tradeprofutures.com/
The industry's top futures and forex trading platforms.
Trade Empowered: http://www.tradeempowered.com/
Learn how to day-trade, swing-trade, or become a profitable long term trader.
Main Street Alpha: http://mainstreetalpha.com/
A social site that links up professional successful traders with verifiable track records to capital.
-----
The government is not there to help you
“The scariest thing in the world to hear is ‘hello, i’m from the government and i’m here to help.” -President Ronald Reagan
“The government runs very little efficiently. It does very little right.”
Example: The Obamacare website, which cost $100 million to create and now, another $100 million to fix.
The Coming Divide by Jason Stapleton: http://www.theliveshow.tv/resources/thecomingdivide.pdf
EXCERPT: “If insurance premiums are going up most Americans who now have insurance are going to become more dependent on their employer to help defer some of the cost. This, in turn, will likely decrease the mobility of our
workforce since people will be less likely to quit jobs, start new businesses, or apply for better jobs out of fear they might lose their health insurance. If you feel trapped in a job now and are afraid to quit because the company has such good benefits, just wait. In the world of ObamaCare it will be virtually impossible to leave your employer. Here’s why.
In addition to a personal mandate, ObamaCare also goes after corporations. Those are the evil institutions that provide jobs and create products that produce wealth. In the eyes of many in Washington, a company exists not to make a profit for its shareholders or to create value for consumers. Rather, that company exists to provide jobs, pensions, and health insurance to its workers. In their, eyes making a profit should always come second to caring for the worker.”
EXCERPT: “The new corporate mandate forces most American businesses to offer government approved health insurance to their employees or else pay new federal taxes for not doing so. Not all corporations fall under this new law. Right now the bar is set at 50 employees or more. So if you run a company with 50 or more employees or if you work for a company that has more than 50 employees, you’re going to be affected.
Under the new mandate, if a company does not offer health insurance and has at least one employee receiving a subsidy from the government then that company must pay a $2,000 fine per employee.
Even if the company does offer health insurance, if they have an employee who can get a better deal with a subsidized insurance program, that company will also be taxed at $2,000 per employee (exempting the first
30 employees).”
EXCERPT: “But it doesn’t stop there. Even if the employer does offer health insurance, if one person who works for them opts for an alternative, subsidized health insurance, that company is still liable to for the penalty because the company did not provide “adequate” coverage. So they’re damned if they do and damned if they don’t.
Now step back for a moment and let’s contemplate what the cost of providing coverage might be to those employers. Remember, by the IRS’s own filings they expect the cheapest plan to run $20,000 year. This is several multiples higher than the current cost for health insurance. Companies that now offer insurance will now be faced with a choice. Pay double or triple what they now pay per employee or simply suck it up and pay the penalty. Which one do you think most large companies will choose?
If you work for a small company (less than 50 employees) and you happen to have health insurance now, do you think they are likely to continue to provide it when premiums double or triple? The answer is no. What you will see over the next several years is companies dropping their health insurance coverage and pushing people onto the exchanges.”
What it all means for you, your children, and your grandchildren?
EXCERPT: “The new law will have a very damaging effect on entry level workers. When I turned 16, I walked across the street from my house and got a job washing dishes at a Pizza Hut for $5 an hour. Over the course of the next several years I moved from one company to the next. There was a high degree of mobility and I had the opportunity to advance at a young age. In the summer I switched from working 20 hours a week to 40 or 50, depending on who I was working for and how badly I needed money. There was a massive amount of opportunity for a kid who was willing to work hard.
I also gained a great deal of work experience. I had the chance to work in a variety of industries and even tried my hand at entrepreneurship by cutting grass with a friend in the summer. Entry level jobs were easy to come by and a poor kid like me learned a lot about the value of hard work. Had I decided to stay at the Pizza Hut, I could have easily worked my way up to a manager and even purchased my own franchises down the line. There was upward mobility, a chance to start at the bottom and retire rich.
I think that kind of opportunity is over. With the passage of ObamaCare, companies like Pizza Hut, McDonald’s, Home Depot, and a host of other companies that offer a low barrier for entry and a chance to advance, will have to drastically change the way the hire and advance employees.”
Walmart is getting out of the health insurance business and getting into the health provider industry
Wal-Mart cuts health benefits for some part-timers
http://www.chron.com/news/us/article/Wal-Mart-cuts-health-benefits-for-most-part-timers-5806306.php
Walmart Announces Ambitious Goal: 'To Be The Number One Healthcare Provider In The Industry'
http://www.forbes.com/sites/dandiamond/2014/10/06/walmart-announces-ambitious-goal-to-be-the-number-one-healthcare-provider/
7th Heaven Actor Makes Horrifying Confession
“It’s extremely sad. It taints forever what was one of the real shining lights in evening television in America.”
Twitter sues the Department of Justice
Twitter Is Suing the Government So it Can Tell You More About Surveillance
http://time.com/3479012/twitter-suing-department-justice/
Twitter sues US government over limits on ability to disclose surveillance orders
http://www.chicagotribune.com/news/sns-wp-washpost-bc-twitter07-20141007-story.html
“It is so critically important that we demand transparency in government.”